Strong Demand Drives Significant Growth in Real Estate Sector

Godrej Properties has reported an impressive 89% year-on-year increase in bookings during the first half of FY25, totaling ₹13,800 crore. This remarkable achievement has not only surpassed the halfway mark of the company’s annual booking guidance but has also eclipsed its total bookings for FY23.

Quarterly Highlights: Substantial Sales Boost

In the second quarter of FY25, Godrej Properties recorded bookings worth ₹5,200 crore from the sale of 5.1 million square feet of residential space. The surge in demand has been particularly driven by new project launches in the National Capital Region (NCR) and the Mumbai Metropolitan Region (MMR).

During this period, the company sold 8,600 homes, encompassing a total area of 14 million square feet. Notably, the Godrej Vrikshya project in NCR achieved bookings of ₹1,500 crore, while the Godrej Woodside Estate in MMR recorded over ₹600 crore in bookings.

Financial Performance: Collections and Cash Flow Surge

Godrej Properties reported a significant increase in collections, with a 68% rise in Q2, amounting to ₹4,000 crore. For the first half of the fiscal year, collections reached ₹7,000 crore, marking a 62% year-on-year increase. This brings the company to 47% of its annual collection guidance for FY25.

Operating cash flows for the quarter were also robust, hitting ₹1,800 crore—up 120% compared to the previous year. In the first half, cash flows tripled to ₹2,800 crore, showcasing the company’s strong financial health.

Future Outlook: Expanding Horizons

Gaurav Pandey, Managing Director and CEO of Godrej Properties, emphasized the company’s strategic growth. “The project additions in the quarter ensure a robust pipeline of launches, not just for the current year but for years to come,” he stated. He also announced the company’s entry into the Indore market, with plans for its inaugural launch in the city.

As Godrej Properties continues to expand its portfolio and enhance its operational efficiency, it remains poised for further growth in the competitive real estate landscape.